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10 days to settle the subsidy from PFR Financial Shield 1.0 – micro enterprises and SME sector


On 29 April 2020, the Financial Shield from the Polish Development Fund (PFR), later called Financial Shield 1.0., was launched. All entrepreneurs who obtained this subsidy are obliged to settle it after one year. Now, they only have 10 days comply with this requirement.

financial shield pfr micro enterprises sme

Penalties for failure to settle the PFR subsidy on time

From 29 April 2021, the Polish Development Fund (PFR) allows to settle the subsidies. It should be remembered that the date on which the subsidy should be settled was specified in the provisions of the contract concluded with the PFR. According to the contract, a firm that which received subsidy is required to settle it after one year from the date of disbursement of funds. The settlement should be made within 10 business days following the day on which 12 months have elapsed from the payment of the subsidy. Therefore, the date of submitting the application for the subsidy or the date of signing the contract will not be relevant to determine the deadline for settlement. The date of obtaining funds from the subsidy is crucial to determine the deadline.

Firms that received aid during the first days of functioning of the shield must therefore hurry. Failure to settle on time, or even one day of delay, will result in the obligation to return the entire subsidy.

How to settle the subsidy from the Financial Shield?

PFR subsidies will be settled via electronic banking at the same bank where the application for aid was submitted. In the first step, PFR will provide a settlement proposal. The beneficiary of the subsidy is responsible for verifying the data in the proposal, and if necessary, also supplementing or changing it. If there are discrepancies, they must be clarified with the relevant authorities. After verification of the data, the statement must be signed and submitted before the deadline.

As mentioned, failure to settle the subsidy will automatically trigger an obligation to return the entire subsidy. After the settlement, the PFR decision regarding redemption of the part and repayment in instalments of the remaining part of the subsidy should be expected.

Both in the case of the SME sector and micro-enterprises, the subsidies can be cancelled up to 75% of the granted amount.

Grzegorz Witczak

Grzegorz Witczak
Advocate, Director of the Commercial Law and Property Department 
TGC Corporate Lawyers


How can we help?

TGC Corporate Lawyers provide support in the settlement process of subsidies from PFR Financial Shield.

Settlement of PFR subsidies – ask for service:


See also: PFR 2.0 Financial Shield launched: firms can apply for financial support


To obtain additional information, please contact us:

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